Audio By Carbonatix
Egypt announced plans on Monday for a new $1 billion marina, hotel, and housing development on the Red Sea to boost the region's tourism industry.
Construction on the "Monte Galala Towers and Marina" project would start in the second half of the year and run for seven years, Ahmed Shalaby, managing director of the main developer, Tatweer Misr, said.
The 10-tower development - a partnership with the housing ministry and other state bodies, including the armed forces' engineering authority - would cost about 50 billion Egyptian pounds ($1.07 billion), he added.
The project, also announced by the cabinet, will cover 470,000 square metres on the Gulf of Suez, about 35 km south of Ain Sokhna, Shalaby said.
Egypt aims to boost total tourist arrivals to around 30 million by 2030, from around 19 million recorded by the tourism ministry in 2025.
Latest Stories
-
Ghana’s BRICS move requires clear strategy to manage risks – Godfred Bokpin
50 minutes -
Pay teachers realistic income – Duncan Amoah to gov’t
1 hour -
Bechem to become chicken capital of Ghana – Mahama projects Â
1 hour -
Gov’t targets recruitment of 16,500 health professionals in 2026
1 hour -
Two-week strike will not derail academic calendar – GNAT President
2 hours -
Headmaster detained after BBC investigation into alleged sexual abuse of students
2 hours -
GNAT pushes for clear implementation procedures of teachers’ conditions of service
2 hours -
Recurrent strikes threaten quality of education and academic calendars – Prof Bokpin
2 hours -
‘Cockroach’ group leaders among hundreds detained in Delhi protest
2 hours -
Don’t let speed of information become your judgement – CJ tells new lawyers
3 hours -
World Cup visa scandal: People have leveraged public office to facilitate fraud – Senyo Hosi
3 hours -
Glut! Farmers count losses as prices crash, customers happy
4 hours -
GSA postpones auction of unserviceable vehicles
4 hours -
Man charged with attempted murder after stabbing
4 hours -
World Cup visa scandal: Senyo Hosi says issue goes beyond calls for Sports Minister’s resignation
4 hours